Bridging Loan for Business Acquisition

Commercial Mortgage for a Scrap Yard

Our client was introduced to us as they were looking to buy out the director of a business who planned to retire. Due to the complexity of the transaction and the client’s need to open a holding company while receiving tax and legal advice, we decided that a temporary, partial payment to the outgoing director was the best way to start the process.

Together Money was selected as the lender for this deal, and we worked closely with them to ensure that all parties were happy. The lender provided indicative terms that were agreeable for the client, secured against the company property.

A 12-month loan of £530,000 was quickly agreed, with the exit to be a term loan provided by a separate lender which Forecast Finance are also arranging.

This transaction was completed within six weeks of initial introduction and the client was very pleased with the outcome.